Mapfre has agreed to acquire a 38.9% stake in Tuio, a Spanish insurtech and digital insurance distributor, through a share purchase and participation in a capital increase.
The insurer will buy shares from several existing Tuio shareholders before joining the capital raise. The companies didn’t disclose financial terms. Regulators still need to approve the transaction.
Tuio launched in Spain in 2021 and operates only in its domestic market for now. The company plans to use Mapfre’s investment to fund international expansion, starting next year across Europe and Latin America, where Mapfre already has a commercial presence.
Since launch, Tuio has built its model around technology, digital distribution and agentic AI across several insurance lines. Mapfre said the investment will support Tuio’s growth in Spain, its entry into new markets and the development of additional technology capabilities.
Mapfre said Tuio became the first insurtech to fully connect with ChatGPT, which now generates more than 20% of its new clients.
The deal gives Mapfre a larger position in digital insurance distribution at a time when insurers are trying to reach consumers through faster, more personalised channels.
According to Beinsure, the investment supports distribution models tied to new customer behaviour and combines technology with human advice.
Separately, Mapfre Re appointed Fernando Utrilla Agüero as chief financial officer in April. The reinsurer’s board approved the move as part of a planned succession before Daniel Quermia’s retirement.
Mapfre Re said Agüero’s experience inside the wider Mapfre Group would help maintain continuity in financial leadership.
